EURUSD Daily Analysis – May 29, 2019

EURUSD’s fall from 1.1215 extended to 1.1160 area. The fall is likely corrective consolidation for the uptrend from 1.1106. As long as 1.1160 support holds, the uptrend could be expected to resume and further rise to 1.1260 area is still possible after the consolidation. Only break below 1.1160 support could signal completion of the downtrend.

EURUSD 4-hour chart